Transcriber: Van Nguyen Reviewer: Mujtaba bakhet
Everybody likes money.
It’s an essential aspect of our daily lives that controls society.
We use it for exchanging goods and services,
as well as the benchmark for our success.
Now, acknowledging help follow the same principle,
we deem people who are smarter or more fit than us just as better.
Now, wanting to become better isn’t the mindset of all of us,
it matters whether we put in the effort or not.
So, how can you improve all three aspects: money-making, boosting health,
and attaining knowledge?
Well, the answer consists of two parts,
and it’s a very simple structure,
Aspect number one: Invesment.
This is essentially investing and setting aside time and money
or any other resource to reach your goal.
Now, this might seem like common sense,
but most people say that they're going to do something,
but they're not doing it due to laziness or not having enough time.
We’re all guilty of it.
Now, if you truly care about something,
you will make time and you will think of a way to achieve that goal.
So let's take the concept of investing resources and apply it to
the stock market or our money-making concepts.
So here's a table that shows how much money you need to invest in order to
become a millionaire by age 65.
As you can see, the younger you start less money, you have to invest per day,
per month, per year to become a millionaire by age 65.
If you want to invest more, go ahead, make the million comes to you faster.
By investing money and time,
you get to enjoy your life more by slowly computer wealth over time.
You can invest your money into any company, may that be Google, Amazon,
Walmart, Tesla or many, many more.
Now, this is a side hustle, a way to make money, not from your direct income.
So the moral of the table that I just showed you was that
the sooner you start investing money,
the less effort is required to reach a million.
And this moral can get you by to any goal that you create.
Now, from this question, from this question arises,
would you be willing to exchange money and time and resources
of your youth in order to have a better life when you’re older?
Or would you rather spend that time and money now
create good memories, have the time of your life only to not
be so wealthy, knowledgeable or healthy by the time you reach middle age,
There’s no concrete answer, it is completely your choice
Now, the knowlegde of health follows the same principle,
invest money and time and you’ll be greatly rewarded throughout your journey
buy external forces for improving your overall health
or knowledge, or buy a personal trainer that can help you achieve your dream body
Overall, it all boils down to whether you’re able to achieve or
you’re willing to achieve your goal, not think about it
but actually take the leap towards your goal.
Now, the hardest part of your journey will be aspect number two, motivation.
Motivation differs person to person.
Now some people want to become rich, have a great life for themselves
others to give money to organizations that make the world a better place
Some people want to have an aesthetic party for showing off
others for their overall fitness, it differs.
Now motivation is the burning sensation inside of you
that either wants to continue ferociously
or wants to give up because you aren’t seeing results
or it seems to risky
You have to realize that by investing into a better you,
it doesn’t matter whether you might have pitfalls in your dream.
Continue or as the phrase goes, “Keep your eyes on the prize”.
Let me give you a personal example of my virtual stock trading income.
So one and a half years ago, when I was 13 years old,
I wanted to learn more about the stock market.
I wanted to become rich because that’s what every teenager dreams of.
So I went on the Internet and I found myself in virtual stock trading program,
which essentially lets me simulate my husband as if it was real money.
So in space, it was essentially a game.
Now, for the first 6 months, everything was going great.
I was learning I was doing basic analysis on companies and
I was making incremental profits every single week.
Main point was, I was learning and that’s what I strive for.
Then in March 2020, the COVID-19 pandemic started to majorly influence the market.
Businesses closed, people started panicking,
the stock market crashed and so did my portfolio.
This is a table that shows the overall returns of my portfolio and
the days which corresponds with the overall returns.
So before March 2020, you can see I was up +4%
That was the product of six months of work and basic analysis of companies
and study wise investment decisions.
And then on March 3rd, my portfolio was down to -5.5
A week later it was down to -10. Two more weeks later, I was down to -20.
And it kept on falling and on, and then on April 3rd,
I reached the lowest point in my portfolio which was -23%,
To put it into perspective, -23% essentially meant that I had lost $23,000.
That is a vast sum of money, especially for a 13 year old.
And it didn't matter to me whether the money was real or not.
I treated this as a game of knowledge, as a game to better myself.
So I tweeted that money is real and I felt horrible.
I mean, I lost $23,000. What can I do now?
I was genuinely set on closing my account,
never looking at this game again and just giving up.
But then I thought to myself, my main motive was to learn right?
And I am in the middle of
the biggest market crash in modern history.
Why don’t I use this as a learning opportunity?
So I set myself a goal of coming back from -23% to +0 to the positives.
And for the next six months, I kept my eyes on the prize.
I kept on working for that.
And for those six months, when the game finally closed, I was off the screen.
It looked like this, overall returns: +6%, overall gains: $3,600
I feel immensely proud that I persevered through a loss of $23,000,
That I managed to accumulate all of this knowledge just by not giving up.
Now, keeping your eyes on the prize as you work, you can create supples, like
“If I finish this book, I get to go out with my friends and have a blast.”
Or “If I curl this dumbbell 15 times for heavy weights.”
I get to make waffles for breakfast tomorrow, isn’t that just wonderful”
If you’re not a waffle person, pancakes are a great alternative.
Fundamentally, it doesn't really matter what your goal is.
Find ways to never lose hope and motivation to succeed
and you achieve your goal much faster than imagined
So, in stock, improvement can be achieved in 2 parts
Part number one, invest time, money or any other resource that you need.
And part number two, have pure persistence and find ways to never lose hope
and motivation to succeed. All of this adds up to a better version
of you. Now, as a result, you want to continue your life the way it is
or do you want to take control of it and improve?
Thank you.